I see that we are on the same page. Unfortunately I am unsure what the hang up is in this case and am at a loss as to how to proceed from this point. As I see it you are following the instructions as presented in the support docs and I felt sure that the combination of available downloads would have been enough to get you to your destination here. You might try once more to download a fresh copy of 10.11 El Capitan after first deleting the current download.
You have the links to the Apple Support documents detailing how to upgrade from Snow Leopard to El Capitan. And I believe your iMac meets the requirements for the upgrade.
It may be that your original thoughts to download Mountain Lion and begin your upgrade from there were smack on target.
To that end, I've collected this link to the Mac OS X Mountain Lion retail purchase and download from the Apple Store.
I hope this will resolve the issue.
I apologize if my attempts to help have wasted your time.
If I have missed something I hope someone else will jump in here and offer a suggestion.
edit - You might try a restart in safe mode and let the iMac do cache cleaning and housekeeping. Perhaps attempt the install while in safe mode and see if that is successful. If not, reboot normally and try again.
Use safe mode to isolate issues with you Mac - Apple Support