Peel and seed tomatoes by cutting an "X" on top of the tomatoes and dropping into boiling water for 10 seconds. Then place them in a bowl of ice water. The skin will peel off.
Pour the olive oil into a large stock pot over medium heat. Add the diced onions and bell peppers and grated carrots and saute until tender, about 6-8 minutes.
Add the minced garlic and cook for a minute more, until fragrant.
Add tomatoes, chopped basil, oregano, thyme, bay leaves, parsley and salt. Add the 1/2 cup of water and allow the pot to simmer on low heat for 2-3 hours. Stir the ingredients and add spices as needed. During the last 30 minutes or so, add the other half of the carrot whole to absorb acidity.
Add the 1/4 cup of lemon juice (more if desired) once the sauce has cooked down. This helps to preserve the sauce and add flavor. Remove the carrot half, sprigs of herbs and the bay leaves.
Use the sauce fresh or store in the fridge up to a week. Or can according to your canner's instructions. Enjoy!