Looks like its snapped then been driven whilst broken hence going all stringy as it wraps itself around various parts.
Don't run it without the 4wd system is my opinion. Also check the gears that the belt has snapped on for wear and tear. If there is damage to those aswell it could minimise the life of your new belt.
Finally whatever you do set the slipper to prolong belt life, slipping 2-3 feet is about right.
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Matt Osland-Jones
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