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1. Lightly grease a 15x10x1-inch baking pan; set aside. In a large saucepan, heat 2 tablespoons oil and 1 tablespoon of the butter over medium heat. Add mushrooms, onion, and garlic. Cook until onion is tender and liquid is evaporated, stirring occasionally. Add rice; cook and stir for 2 to 3 minutes or until rice starts to brown.
2. Meanwhile, in a medium saucepan, bring broth to boiling; reduce heat and simmer. Slowly add 1 cup of the broth to rice mixture, stirring constantly. Continue to cook and stir over medium heat until liquid is absorbed. Add an additional 1/2 cup of the broth to rice mixture, stirring constantly. Continue to cook and stir until liquid is absorbed. Add the remaining broth, 1/2 cup at a time, stirring constantly until liquid is absorbed. (This should take about 15 minutes.) Stir in the remaining 1 tablespoon butter, cheese, parsley, and pepper.
3. Pour rice mixture into the prepared pan, spreading evenly. Cover and chill about 1 hour or until completely chilled. Using lightly greased or wet hands, shape mixture into 1-inch balls. Return balls to the baking pan. Cover and chill about 2 hours or until balls are completely chilled.
4. In a large skillet, heat 1 cup oil over medium-high heat. Roll rice balls in beaten eggs, then in bread crumbs to coat.
5. Cook rice balls, one-fourth at a time, in hot oil for 2 to 3 minutes or until golden brown, carefully turning once. Using a slotted spoon, remove rice balls and drain on paper towels. Keep warm in a 200 degrees F oven while cooking the remaining rice balls.