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The bike is definitely an MZ ETZ250 in race trim. Even the tank is the standard ETZ250 item. Here in the UK we have had an MZ racing series for many years - I think it started in about 1986 and is still going. See http://website.lineone.net/~elt/ for more information. Darren Moggridge is the current champ.

It was set up to enable people to get into racing very cheaply indeed - it was rumoured that some racers spent more on their one-piece leathers than on their race bikes.

I'm not sure about the name Lemoto, but back in the '80s a company called Mel Lemoto used to make rear-sets for Japanese bikes, particularly for two-strokes I think. I can only guess that they were providing some sponsorship?

As for who the bike belongs/belonged to and therefore its significance: I'm afraid I have drawn a blank there.
 

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Re: odd bike significance

The ETZ250 has a box section spine that runs from the headstock straight back underneath the tank. The motor is mounted at the back of the crankcase and then there is a hanger that comes down to the rear of the head. It is comprised of two metal cups with a sort of rubber damper between them. if you watch an ETZ250 ticking over on the centrestand you will see that the motor is quite literally bouncing up and down.

You can trust me on this - it works and cuts the vibration down a great deal: my husband and I did a camping trip across much of Western Europe on a pair of ETZ250s. Also, on one occasion, my husband managed to shear one of the bolts that goes from the hanger to the cylinder head and had to ride about 60 miles with the motor tied on with yachting twine!!
 
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