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It's internal , and to remove it you need to unweld a couple wires inside. You can always buy the regulator with brushes (comes togetther) 100-120$ @ rockauto.com
I agree with Matt. For a rebuilt you're going to get the best quality short of buying a Ford OEM or Motorcraft remanufactured unit. Additionally, local shops can often "up" the alternator's output if you ask.