601 Belts

I was playing with the dog at camp last week end. His Ball rolled under the front of my "601" and I noticed a belt hanging. There are two belts, it appears to be the one for the alternator. I'm at best a "back yard" mechanic, what am I facing?

my guess is with that engine confifuration you will have to be a contortionist to get in to it on the plus side there are 2 bolts to loosen on a ford the pivot bolt should be a long one with as i remember a 9/16 head and also the same size wrench for the nut and a 1/2 inch head bolt threaded into the alternator for adjustment if you have an high out put alternator the bolt sizes will be 9/16 and 5/8 once the belt is tight you want about 1/4 to 1/2 inch of deflection on the belt if its too loose its going to slip if its too tight you will have a water pump failure