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I noticed that Bound Battleaxe's stats suck. Normal Bound Battleaxe's damage is between Iron and Steel while with Mystic Binding perk it's equal to Glass.
Bound Sword's damage, on the other hand, equals to Orcish and Daedric swords respectively.
This mod improves the Battleaxe's stats so it's damage is as good as Orcish and Daedric battleaxes, similiar to the sword.