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Article 156 of the Constitution of India states that a Governor holds office for a term of five years but it does not set in stone certain conditions mentioned in the question.
Option I is incorrect because, based on the article, a Governor can be removed from office by the President before the completion of the term. Thus a Governor`s term is not guaranteed to last for five years.
Option II is inaccurate because, while the term of a Governor`s tenure is five years, he/she can be reappointed and can continue in office beyond the initial tenure of five years. Therefore, it`s not accurate to say a Governor can`t stay in office beyond five years.
So, neither I nor II can be deduced from Article 156 of the Indian Constitution. Hence, option 4: "Neither I nor II" is the correct answer.