If the notify action is a configured action, globally enabled, and does not exceed the global rate limit for notifications, the SNMP trap notification will always be sent, and is not subject to precedence. The notification is sent out after other actions have been performed and indicates the condition on the interface after any other actions have taken place.
If one or more other actions are configured, only the one with the highest precedence will be performed. The order of precedence, from highest to lowest, is disable and drop.