If you don't expect the Mtext to need to word-wrap, you can use the Width option and give it zero for the width, to avoid the need to pick a second point:
(COMMAND "_.MTEXT" pause "_style" "TERRA 0.1" "_width" 0 "INSERT TEXT" "")
Or if you have a known width for the text box, you can give it that with a relative displacement [only the X part matters]:
(COMMAND "_.MTEXT" pause "_style" "TERRA 0.1" "@4,0" "INSERT TEXT" "")
You just need to be aware of the sequence of prompts [for example, that you must pause for the first point before the Style option unlike in a TEXT command, and you must invoke the Style option before giving it the second point].
P.S. If this:
(C:TERRA01) ;Creates 0.1" Text style
makes that Style current in the process, then you don't need to specify the Style within the Text/Mtext command.
Kent Cooper, AIA