I didn't read all responses above, so if I'm doubling up on someone else's opinion, I'm sorry.
Either that belt is the wrong size or it is completely worn out. It shouldn't ride down in the bottom of the pully, but on the walls of the belt farther out. Therefor, it may have been very loose at some point and it arced out as it hit the resistance of the alternator every time that spot came around.
Get new belts of the correct size, not just length.
Either that belt is the wrong size or it is completely worn out. It shouldn't ride down in the bottom of the pully, but on the walls of the belt farther out. Therefor, it may have been very loose at some point and it arced out as it hit the resistance of the alternator every time that spot came around.
Get new belts of the correct size, not just length.