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/Peo, FreeWebSpace.net
Concerning the control panel: cPanel or Plesk would be great.
Concerning the specs: Anything you can give at this price as long as
it is a linux server.
Typically cpanel itself is $25/month and plesk is around $15-20/month so you really dont have an fair budget. Typically $75 for an dedicated server that you would need, is an proper budget.