If you unplug the unit and look from the back of the unit.
http://www.angelfire.com/electronic2/vintagetx/E2
There is a bracket across the fly-wheel attached with 2 screws.
If nobody has messed with your deck before you will find lock-paint on the phillips screws, scrape the paint off and take the left screw out located next to the wire-loom.
Then loosen the other screw 3 turns and leave it.
Carefully push the bracket down on the left side just below the fly-wheel.
There is a small steel-ball in the center of the fly-wheel, be sure not to loose it.
Slip the belt off the flywheel and look further up behind the capstan-motor (motor with a plastic fan) there is a pulley and if your deck has a voltage-selector there is 2 different locations for the drive-belt.
Make a note where the belt goes.
Use a coat-hanger with a small hook and slip the upper part off the capstan-motor pulley.
Now you can pull the whole belt out thru the bottom of the fly-wheel between the bracket.
Order a new belt from Teac
parts@teac.com
and before you slip the new belt on clean both the fly-wheel and capstan-motor pulley with head-cleaner and several Q-tips to get the black rubber-residue off.
Installing the new belt is best starting at the capstan-motor.
Be sure the belt goes on the same location as before (60 hz)
then slip the belt on top of the fly-wheel and turn the flywheel with your fingers to the left. belt adjust itself to the right location.
Push the bracket back on the left side, attach the screw and tighten both snug again.
Good Luck Bean and keep us posted on the result.