Preheat oven to 350 degrees. Place all the ingredients in a large mixing bowl EXCEPT the chocolate chips, cinnamon, brown & white sugars. After blending the dry ingredients with the eggs and water, fold in the chocolate chips. Blend the white sugar, brown sugar & cinnamon, set aside. Pecan nuts are optional. Grease a Bundt pan. Scoop half of the batter into the Bundt pan and sprinkle ½ of the cinnamon mixture on top of the first layer of batter. Spread the last of the batter and sprinkle the remaining cinnamon-sugar mixture onto the top of the last layer of batter. Use your spoon to partially blend the last of the cinnamon mixture into the batter. Bake for about 55-60 minutes or until a toothpick comes out clean.