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This bike kinda sounds like a wreck to me and I bet you could do a lot better for your money. How big are you and where are you from? A cb125 is really small, maybe try looking for something a little bigger and reliable like a cb350. Just my opinion.
You'd actually be a lot better off going with a drum in front if you can, the disk brake is pretty useless. I also forgot to mention that you'd need new triples if you go with newer model forks. Newer forks don't screw in like the 75 model.