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In a mixing bowl, beat together cream cheese and butter until light and fluffy. Slowly beat in powdered sugar, brown sugar, and vanilla. Use a rubber spatula to stir in mini chocolate chips.
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Cover and chill for at least 2 hours.
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Shape chilled mixture into a ball. Wrap with plastic and chill another hour.
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When ready to serve, roll cheese ball in pecans. Serve with graham crackers.