load term from field, and print as a link in preprocess page

gistfile1.php

function basetheme_preprocess_page(&$vars) {

  $term = taxonomy_term_load($vars['node']->field_name_topic['und']['0']['target_id']);
  $term_uri = taxonomy_term_uri($term); // get array with path
  $term_title = taxonomy_term_title($term);
  $term_path = $term_uri['path'];
  $link = l($term_title,$term_path);

}