Vermont § 607 - § 9—607.

§ 607. § 9—607.

• Collection and enforcement by secured party (a) If so agreed, and in any event after default, a secured party: (1) may notify an account debtor or other person obligated on collateral to make payment
  or otherwise render performance to or for the benefit of the secured party; (2) may take any proceeds to which the secured party is entitled under section 9—315 of this title; (3) may enforce the obligations of an account debtor or other person obligated on collateral
  and exercise the rights of the debtor with respect to the obligation of the account
  debtor or other person obligated on collateral to make payment or otherwise render
  performance to the debtor, and with respect to any property that secures the obligations
  of the account debtor or other person obligated on the collateral; (4) if it holds a security interest in a deposit account perfected by control under subdivision 9—104(a)(1) of this title, may apply the balance of the deposit account to the obligation secured by the deposit
  account; and (5) if it holds a security interest in a deposit account perfected by control under subdivision
  9—104(a)(2) or (3) of this title, may instruct the bank to pay the balance of the
  deposit account to or for the benefit of the secured party. (b) If necessary to enable a secured party to exercise subdivision (a)(3) of this section
  the right of a debtor to enforce a mortgage nonjudicially, the secured party may record
  in the office in which a record of the mortgage is recorded: (1) a copy of the security agreement that creates or provides for a security interest
  in the obligation secured by the mortgage; and (2) the secured party’s sworn affidavit in recordable form stating that: (A) a default has occurred with respect to the obligation secured by the mortgage; and (B) the secured party is entitled to enforce the mortgage nonjudicially. (c) A secured party shall proceed in a commercially reasonable manner if the secured party: (1) undertakes to collect from or enforce an obligation of an account debtor or other
  person obligated on collateral; and (2) is entitled to charge back uncollected collateral or otherwise to full or limited
  recourse against the debtor or a secondary obligor. (d) A secured party may deduct from the collections made pursuant to subsection (c) of
  this section reasonable expenses of collection and enforcement, including reasonable
  attorney’s fees and legal expenses incurred by the secured party. (e) This section does not determine whether an account debtor, bank, or other person obligated
  on collateral owes a duty to a secured party. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2013, No. 157 (Adj. Sess.), § 1.)