Bring vinegar to a boil; add the wax-myrtle and red bay leaves. Simer 15 to 20 minutes or until mixture is reduced by half. Remove from heat and cool. Strain mixture, discarding solids.
In a blender or food processor, process vinegar mixture with remaining ingredients. Chill.
Note: Nine bay leaves may be substituted for 15 wax-myrtle leaves and six red bay leaves.
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