In a saucepan over medium heat, combine cherries, water, lemon juice, sugar and cornstarch.

Bring to a boil; reduce heat to low and cook, stirring frequently, for about 5-10 minutes. You'll know the filling is done when it is thick, the cherries have released their juices, and the "goo" goes from being an opaque pinkish color to a clear, deep red color.

Remove from the heat and add the vanilla extract and almond extract.

Let the filling cool before adding to the pie crust. Filling can also be made ahead of time and kept in an airtight container in the refrigerator for up to 3 days or in the freezer for 2-3 months.

When you are ready to make the pie, preheat the oven to 425°F. Place one of your oven racks in the bottom third of your oven, preferably on the lowest setting.

Roll out one half of the pie crust so it will fit a 9-inch pie plate. Gently place the crust into the pie plate, trimming around the edges as necessary.

Add the pie filling to the pie crust. Roll out the remaining half of the pie dough until it is big enough to cover the top of the pie with some overhang.

Place the pie crust on top of the pie. Tuck the overhang under. Seal and crimp the edges of the pie.

Place the pie on a rimmed baking sheet. Whisk together the egg and water; gently brush the top of the pie with the egg wash and sprinkle with the teaspoon of sugar. Use a sharp knife to cut slits into the top of the pie for venting steam.

Place the baking sheet with the pie on the rack that you placed in the bottom of the oven. Bake at 425°F for 15 minutes. Leave the oven closed and set the temperature to 350°F; continue baking for another 40-45 minutes, or until the crust is golden and the filling is bubbly.

If the crust, particularly the edges, brown too quickly before the pie is finished baking, feel free to cover them lightly with a pie guard or foil.

Let the pie cool for at least 2 hours before cutting and serving.