In this paper, we report our second-part result for the M1.8 class flare on 2012 July 5, with an emphasis on the initiation process for the flare-associated filament eruption. The data set consists of high-resolution narrowband images in He 110830 angstrom and broadband images in TiO 7057 angstrom taken at Big Bear Solar Observatory with the 1.6 m aperture Goode Solar Telescope. EUV images in different passbands observed by the Atmospheric Imaging Assembly on board the Solar Dynamics Observatory are used to distinguish hot plasma from cool plasma structures during the flare process. High-resolution 10830 angstrom images clearly show that, below the horizontal fibrils, which correspond to the filament's spine in full-disk Ha images, a sheared arch filament system (AFS) lies across the penumbra and surrounding satellite sunspots, between which continuous shearing motion is observed. Before the eruption, three microflares occurred successively and were followed by the appearance of three EUV hot channels. Two hot channels erupted, producing two flaring sites and two major peaks in GOES soft X-ray light curves; however, one hot channel's eruption failed. The 10830 angstrom imaging enables us to trace the first two hot channels to their very early stage, which is signified by the rising of the AFS after the first two precursors. Continuous flux emergence and localized flare-associated cancellation are observed under the AFS. In addition, EUV ejections were observed during the formation of the EUV hot channels. These observations support the fact that the hot channels are the result of magnetic reconnections during precursors.