The central area with the Hourglass is very straightforward—follow the path to the chest, then leave by the same route. The primary path goes almost completely around the outside of the floor. You can find a Knife by turning south when you come to a fork, but you'll have to walk north, west, south, and back east to find the stairs that continue up to the third floor. There is also a Buckler along the path, in the northeast part of the floor.