Pour the lime juice into a pitcher. Mix together the sugar and 1 cup water in a separate container and stir to dissolve and make a syrup. Add the sugar syrup to the lime juice and top it up with 4 cups water. Chill in the fridge for about an hour.
To serve: Fill mason jars with ice cubes, add some limeade and top them off with a drizzle of cherry syrup and a maraschino cherry.
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