The correct answer is option 3, which states that the President may resign before the expiration of his/her term by writing to the Speaker of the Lok Sabha. This statement is incorrect because the President does not need to write to the Speaker of the Lok Sabha in order to resign. The President can resign by addressing a letter of resignation to the Vice President.

Let`s analyze the other options:

Option 1 states that the President holds office for a term of 5 years. This statement is correct as per the provisions of the Indian Constitution. The President is elected for a term of 5 years and can be re-elected for a second term.

Option 2 states that the President may be removed from office by way of impeachment. This statement is also correct. The President can be impeached by the Parliament if he/she violates the Constitution or commits any acts of misconduct.

Option 4 states that the President shall continue to hold office until his/her successor enters upon his/her office, even after the expiration of his/her term. This statement is correct as per the Constitution. The President continues to hold office until the new President takes the oath of office.