We consider FRW cosmology in $f(R)= R+ gamma R^2+delta R^3$ modified framework. The Palatini approach reduces its dynamics to the simple generalization of Friedmann equation. Thus we study the dynamics in two-dimensional phase space with some details. After reformulation of the model in the Einstein frame, it reduces to the FRW cosmological model with a homogeneous scalar field and vanishing kinetic energy term. This potential determines the running cosmological constant term as a function of the Ricci scalar. As a result we obtain the emergent dark energy parametrization from the covariant theory. We study also singularities of the model and demonstrate that in the Einstein frame some undesirable singularities disappear.