The Chimu culture was centered on Chimor with the capital city of Chan Chan, a large adobe city in the Moche Valley of present-day Trujillo, Peru. The culture arose about 900. The Inca emperor Topa Inca Yupanqui led a campaign which conquered the Chimu around 1470. This was just fifty years before the arrival of the Spanish in the region.
Rule
The Chimu society was a four-level hierarchical system, with a powerful elite rule over administrative centers. The hierarchy was centered at the walled cities, called ciudadelas, at Chan Chan. The political power at Chan Chan is demonstrated by the organization of labor to construct the Chimu's canals and irrigated fields.  Chan Chan was the top of the Chimu hierarchy, with Farfan in the Jequetepeque Valley as a subordinate. This organization, which was quickly established during the conquest of the Jequetepeque Valley, suggests the Chimu established the hierarchy during the early stages of their expansion. The existing elite at peripheral locations, such as the Jequetepeque Valley and other centers of power, were incorporated into the Chimu government on lower levels of the hierarchy. These lower-order centers managed land, water, and labor, while the higher-order centers either moved the resources to Chan Chan or carried out other administrative decisions. Rural sites were used as engineering headquarters, while the canals were being built; later they operated as maintenance sites. The numerous broken bowls found at Quebrada del Oso support this theory, as the bowls were probably used to feed the large workforce that built and maintained that section of canal. The workers were probably fed and housed at state expense.  The state governed such social classes until the empire of the Sican culture conquered the kingdom of Lambayeque, Peru. The legends of war were said to have been told by the leaders Naylamp in the Sican language and Tacayanamo in Chimu. The people paid tribute to the rulers with products or labor. By 1470, the Inca Empire from Cusco defeated the Chimu. They moved Minchancaman, the final Chimu emperor, to Cusco and redirected gold and silver there to adorn the Qurikancha.

Q: what did their rule consist of?
A: a powerful elite rule over administrative centers. The hierarchy was centered at the walled cities, called ciudadelas, at Chan Chan.
where were they located?
the Jequetepeque Valley
the Jequetepeque Valley