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Preheat the oven to 400 degrees F
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In a pan, heat the olive oil for a few seconds and throw in the onions, tomato, peppers and green peppers.
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Saute for about 3-4 minutes and then set aside.
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In a large pan/bowl, add the ground beef, add the mayonnaise, bread crumbs and sauteed mix.
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Mix well.
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Form 2 inch balls or size as desired and plan on a foil lined baking tray.
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Pop the tray laden with meatballs in the oven for 20-25 minutes.
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Remove when crispy and browned.
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Serve hot!