Creamy Baked Mac and Cheese

16 ounces of elbow macaroni (3 cups).
3 tbsps of butter or margarine.
1 ½ cups of milk, divided.
2 large lightly beaten eggs.
1 lb (16 ounces) cubed (½ inch) Velveeta cheese.
8 ounces of shredded Kraft Milk cheddar cheese (divided).
8 ounces of shredded Kraft Monterey Jack cheese.
1 tsp of salt.
1 tsp of freshly ground black pepper.

How to:

Cook the macaroni and drain well then pour in a large mixing bowl.
In a saucepan, melt on low the Velveeta cheese and ¾ cup of milk until melted stirring constantly.
Mix together the melted cheese with the pasta. Add in butter, ¾ cup of milk, eggs, 1 cup of shredded cheeses, salt and pepper. Mix well together and place in a 2 quart baking dish. Top with the remaining cheese.
In a preheated oven to 375°, bake for 25 minutes.
Serve while still hot.