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1. In extra-large bowl or pitcher combine water, lemonade concentrate, sugar, and lime juice. Stir well to combine. Stir in torn basil leaves. Cover; refrigerate 8 hours.
2. Strain through a fine mesh strainer into serving container; discard basil leaves. Chill up to 3 days.
3. Serve over ice with lemon slices and fresh basil. Makes 12 servings.