1 cup (6 oz.) semi-sweet chocolate chips
1 (14 oz.) can sweetened condensed milk
2 tbsps butter or margarine
2 tbsps water
1 tsp. vanilla extract

Hot Fudge Sauce

1. In medium-sized heavy saucepan, over medium heat, melt chips with condensed milk, butter and water.
2. Beat smooth with wire whisk if necessary. Stir in vanilla.
3. Serve warm over ice cream or as fruit dipping sauce. Store leftovers covered in refrigerator; reheat to serve.
4. To reheat: In a small heavy saucepan, combine desired amount of sauce with small amount of water. Over low heat, stir constantly until heated through.
5. To microwave: In a 1-quart glass measure, combine ingredients. Cook on 100% power (high) 3 to 3 1/2 minutes, stirring after each minute. Proceed as above.
   Makes 2 cups
   Preparation time: 10 minutes