On MSDN you can find how to create a Term and add it to TermSet. Sample is provided from TermSetItem class description. TermSet should have a method CreateTerm(name, lcid) inherited from TermSetItem. Therefore you can use it in the sample below int catch statement ie:
catch(...)
{
myTerm = termSet.CreateTerm(myTerm, 1030);
termStore.CommitAll();
}
As for assigning term to list, this code should work (i'm not sure about the name of the field "Tags", however it's easy to find out the proper internal name of the taxonomy field):
using (SPSite site = new SPSite("http://myUrl"))
{
using (SPWeb web = site.OpenWeb())
{
string tagsFieldName = "Tags";
string myListName = "MyList";
string myTermName = "myTerm";
SPListItem myItem = web.Lists[myListName].GetItemById(1);
TaxonomyField tagsField = (TaxonomyField) myList.Fields[tagsFieldName];
TaxonomySession session = new TaxonomySession(site);
TermStore termStore = session.TermStores[tagsField.SspId];
TermSet termSet = termStore.GetTermSet(tagsField.TermSetId);
Term myTerm = null;
try
{
myTerm = termSet.Terms[myTermName];
}
catch (ArgumentOutOfRangeException)
{
// ?
}
string termString = String.Concat(myTerm.GetDefaultLabel(1033),
TaxonomyField.TaxonomyGuidLabelDelimiter, myTerm.Id);
if (tagsField.AllowMultipleValues)
{
TaxonomyFieldValueCollection tagsValues = new TaxonomyFieldValueCollection(tagsField);
tagsValues.PopulateFromLabelGuidPairs(
String.Join(TaxonomyField.TaxonomyMultipleTermDelimiter.ToString(),
new[] { termString }));
myItem[tagsFieldName] = tagsValues;
}
else
{
TaxonomyFieldValue tagValue = new TaxonomyFieldValue(termString);
myItem[tagsFieldName] = tagValue;
}
myItem.Update();
}
}