3) Excerpt field is usually used in the "Single Post" post type.
If you want to describe your post in few words, you should use this field, because on "Main Blog" page (if excerpt field is filled) it will use it, instead of cutted text from original text.
The template "Under Construction" is not used in nowadays.
Right now, you should create the page which you want to display for a "Under Construction" and apply it to display in Theme Options > Pages > Under Construction
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