'Located' is not an apt adjective for 'floods'. Among the highlighted words, 'unpredictable' describes the noun 'floods' in a better way, giving the meaning that the land was vulnerable to floods that cannot be predicted.
'Located' fits in the place of 'unpredictable' in the given sentence. It would mean that the sentence talks about the particular land that is located between two rivers.
So, by interchanging (A) and (C), the sentence implies that the land that is located between two rivers is vulnerable to frequent and unpredictable floods, and this could wreak havoc (a situation in which there is a lot of damage) on farmers' crop.
Hence, option b) is correct.
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