It sounds like the AC clutch is about to fall apart. This is what happened with my mom's 97 Ford Escort (which uses nearly the same compressor as the 96 Ford Contour).
If you look closely at that plate in front of the compressor, there are 3 plastic rivets which hold it on. On my mom's car, those somehow broke in a way which caused the compressor clutch to lock completely up, resulting in the serpentine belt breaking (it's a 5-speed--if it had been an automatic, the engine probably would have stalled instead of the belt breaking).
The AC clutch can apparently be replaced separately from the compressor, but it had damaged the input shaft of the compressor so the whole compressor had to be replaced (with a $75 wrecking yard unit--new compressors are way too expensive).