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Butter Sauce:
In a large bowl, cream butter and sugar until light and fluffy.
Add eggs, one at a time, beating well after each addition.
Beat in vanilla.
Combine the flour, baking powder, baking soda and salt; add to creamed mixture alternately with buttermilk, beating well after each addition.
Pour into a greased and floured 10-in. tube pan.
Bake at 350° until a toothpick inserted in center comes out clean,55-70 minutes.
Cool 10 minutes. Run a knife around edges and center tube of pan. Invert cake onto a wire rack over waxed paper.
For sauce, combine the sugar, butter and water in a small saucepan. Cook over medium heat just until butter is melted and sugar is dissolved.
Remove from the heat; stir in extracts.
Poke holes in the top of the warm cake; spoon ¼ cup sauce over cake. Let stand until sauce is absorbed. Repeat twice.
Poke holes into sides of cake; brush remaining sauce over sides.
Cool completely.