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1. Preheat the oven to 300 degrees.
2. Combine 1/4 cup butter, wafer crumbs, and white sugar in a large bowl.
3. Press firmly onto the bottom of a 9 inch springform pan.
4. Beat the cream cheese until fluffy in a large bowl.
5. Gradually beat in the sweetened condensed milk until smooth.
6. Mix in the eggs.
7. Stir in 1/4 cup rum, vanilla extract, and nutmeg.
8. Pour into the prepared pan. v
9. Bake in the preheated oven for 45 minutes, or until the center of the cake springs back when lightly touched.v
10. Allow to cool, then chill.
11. In a small bowl, dissolve the cornstarch in 1 cup of water.
12. Melt 2 tablespoons butter in a medium saucepan.
13. Stir in the brown sugar and the cornstarch mixture.
14. Bring to a boil, stirring constantly.
15. Reduce the heat and simmer for 10 minutes.
16. Remove it from the heat, and add 2 tablespoons of dark rum.
17. Allow to cool.
18. Just before serving, stir the pecans into the sauce.
19. Remove the sides of the springform pan from the cooled cheesecake.
20. Serve with the Pecan Caramel Sauce.
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