EasyBlog post display text

I am setting up EasyBlog on one of our websites and am having trouble getting the blogs on the main page to display the right amount of text. Currently, they are displaying the entire blog or random bits. I would like for each post to just display five lines of text and a read more button.

The site is like screenshot1 and I want it to look like screenshot2.

Where can I change how much text is displayed?
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