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Preheat oven to 350 degrees.
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Grease and flour 13x9 inch baking pan.
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CAKE: In a large bowl,pour boiling water over the oats and let stand for 15 minutes.
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*Do not drain water from oats.
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In the same bowl, blend in the butter and sugars with the oats.
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Add eggs and vanilla.
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Beat well.
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Add dry ingredients, mix until smooth.
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Pour into 13x9 baking pan.
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Bake in 350 degree oven for 30 minutes, or until toothpick comes out clean when inserted in center of cake.
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TOPPING: Mix topping while cake is in the oven.
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Combine melted butter, evaporated milk, brown sugar, vanilla and walnuts in a small bowl.
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Pour evenly over cake right when the cake comes out of the oven, while it is still hot!(that part is important!).
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Place under broiler in oven until topping is golden brown and bubbly.
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Serve warm or cold.