Declaration, bylaws and amendments of each to be executed by owners and lessees.

The declaration and bylaws, and any amendments of either made pursuant to § 42-1902.19, shall be executed by or on behalf of all of the owners and lessees of the submitted land. But the phrase “owners and lessees” in the preceding sentence and in § 42-1902.19 does not include, in their capacity as such, any mortgagee, any trustee or beneficiary under a deed of trust, any other lien holder, any person having an inchoate dower or curtesy interest, any person having an equitable interest under any contract for the sale or lease of a condominium unit, or any lessee whose leasehold interest does not extend to any portion of the common elements.