1 c. semi-sweet chocolate chips
2 Tbsp. butter or margarine
2 Tbsp. water
1 (14 oz.) can sweetened condensed milk
1 tsp. vanilla extract
In heavy saucepan, over MEDIUM heat, melt chocolate chips and butter with sweetened condensed milk and water. Cook and stir constantly until thickened, about 5 minutes. Remove from heat. Add vanilla. Serve warm as fruit and cookie/cracker dipping sauce or drizzle over ice cream or cake. Store leftovers covered in fridge. Serves 6.